Source: PaxForex Premium Analytics Portal, Technical Insight
The AUDUSD pair has dropped to near 0.6640 in the Asian session as a sheer decline in risk appetite has impacted risk-perceived assets. The asset is declining after facing barricades around 0.6720 as the US dollar index (DXY) added gains further. The DXY has refreshed its weekly high at 107.38 and is expected to add more gains ahead.
AUD/USD,D1
Pivot: 0.6671
Analysis:
Provided that the currency pair is above 0.6520, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6671
- Take Profit 1: 0.6750
- Take Profit 2: 0.6900
Alternative scenario:
In case of a broken-down of the level 0.6520, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6520
- Take Profit 1: 0.6380
- Take Profit 2: 0.6200
Comment:
RSI shows the possibility of an uptrend during the day.
Key levels:
| Resistance | Support |
| 0.7100 | 0.6380 |
| 0.6900 | 0.6200 |
| 0.6760 | 0.6000 |
